Posted on Friday, 10.02.2009

Miami Hotel Rates Continue to Drop - Great for Miami Tourists

According to a recent report by a travel research company, tourists took advantage of the lowest Miami hotel rates in at least three years. Miami hotel rates in August dropped between 11% and 13% compared with a year ago.

 

Miami tourists can benefit from the fact that the region’s three hotel markets are showing little or know improvement as the slowest summer for over a decade comes to a close. This of course means cheap Miami vacation rentals for Miami tourists.

In Broward, occupancy dropped 2 points to 58% and in Miami-Dade, 7 points to 63%. The average room rate in Broward fell 11% to $86 per night and to $111 per night in Miami-Dade, a 13% drop. Miami hotel rates were the cheapest since 2006 and rates in Broward were the lowest since 2005.

The exception was the Florida Keys with occupancy up 6 points to 68%. Last August tropical storms Fay and Gustav threatened the islands. Hotel rates in the Keys are down 12% to $141 a night which is the cheapest since August 2005.